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Cryptocurrency has come a long way since the launch of Bitcoin in 2009. Today, it has become a mainstream topic of discussion and is widely accepted as a legitimate form of payment. But what does the future hold for this revolutionary technology? In this article, we explore some of the biggest predictions and trends for the coming year.

Increased adoption by mainstream companies

In recent years, we have seen several mainstream companies embrace cryptocurrencies as a form of payment. However, the adoption rate is still relatively low. In 2023, we predict that more companies will begin to accept cryptocurrencies as payment for their goods and services. This will ultimately lead to greater adoption and usage of cryptocurrencies, making them more mainstream.

Rise of Decentralized Finance (DeFi)

Decentralized Finance (DeFi) has been gaining traction in the cryptocurrency space for some time now. DeFi refers to a financial system built on the blockchain that is decentralized, transparent, and open to everyone. In 2023, we predict that DeFi will become more mainstream as more people begin to understand the benefits of a decentralized financial system.

Increased regulation

Cryptocurrencies have always been a regulatory grey area. In 2023, we predict that there will be increased regulation of cryptocurrencies by governments around the world. This will make cryptocurrencies more mainstream and increase their acceptance by mainstream financial institutions.

Increased security

Cryptocurrency hacks and thefts have been a major concern for investors. In 2023, we predict that there will be a significant increase in the security of cryptocurrency wallets and exchanges. This will help to increase investor confidence and lead to greater adoption of cryptocurrencies.

Conclusion

The future of cryptocurrency looks bright, with increased adoption by mainstream companies, the rise of DeFi, increased regulation, and increased security. As we move forward, we can expect to see more innovations in the cryptocurrency space and greater adoption by the general public.

References:

• Kshetri, N. (2018). Blockchain’s roles in meeting key supply chain management objectives. International Journal of Information Management, 39, 80-89. doi: 10.1016/j.ijinfomgt.2017.12.007
• World Economic Forum. (2020). CBDC Policy‑Maker Toolkit. Retrieved from https://www3.weforum.org/docs/WEF_CBDC_Policymaker_Toolkit.pdf